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Filed under: March 2006

Treating an Addiction

When President Bush recently expressed his view that Americans were addicted to oil, many must have wondered what took him so long to wake up to this reality. But let’s not be the pot calling the kettle black, for Canadians are just as addicted to oil as our neighbours to the south. Our predicaments differ however in that Canada also happens to be one of the world’s primary oil exporters, so we are not just addicts, but major dealers too.

Dealing to addicts can clearly be a lucrative business, and you need look no further than the performance of the Toronto stock exchange over the last few years for supporting evidence. Simply put, when the price of oil rises on world markets, the price of stock in many large Canadian corporations also rises. No wonder with so much of our economic activity tied into Continue…

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